Doron's Vlog

Hi, I’m Doron Weisbarth with Weisbarth & Associates, and welcome to my February 2025 Market Update! As the new year takes hold, both buyers and sellers are coming out of the cold and jumping back into the real estate market. Now, we know this tends to happen every year after that December slowdown—but this year might be a bit different. Maybe. Possibly.  We track a series of markers, and so far, the pattern appears mostly predictable. If you’re looking to buy, you’re going to have more options, as the number of new listings took a big jump compared to last year.  And if you’re looking to sell, you’re likely to find plenty of eager buyers ready to compete, provided, of course, that your home is properly priced and marketed.  So the big question, in my opinion, is whether prices are going to increase rapidly, moderately, or just gradually. Of course, it’s still too early in the year to say with any certainty, but we’re keeping a close eye on the numbers that should emerge in the next month or two.  Let’s take a look at these graphs to see what’s going on in the market. What you’re looking at is a graph displaying New Listings and Pending Sales for single-family homes in King County. You can clearly see the annual pattern that we’ve talked about many times before in this vlog. The new year always brings lots of new buyers to the market, while sellers are slower to join the party. I’ve added vertical BLACK lines on each January to help make the trends clearer.  And to help you see more clearly what’s going on in the market right now, I’ve drawn a horizontal dotted BLUE line to show how the number of New Listings in January 2025 compares to the past few January, and the same thing with a dotted ORANGE line for the number of Pending Sales. What you’ll notice is that January’s number of new listings is higher than any January we’ve seen in the previous three years—almost on par with January 2021, which was a real boom year. So it appears that this might be more than just the usual new year uptick in activity. By the way, if you want to look at this data and read my report at your pace and leisure, you’ll find all this information in my February newsletter, available online and for download, for free, at Weisbarth.com/Newsletter , that’s Weisbarth.com/Newsletter . Now, you may have correctly sense this hesitation in my voice earlier. The fourth quarter of 2024 saw some of the slowest activity levels we’ve experienced in many years, in fact, I don’t remember a weaker fourth quarter since we’ve emerged from the great recession of 2007, 8 and 9. I, and many others, believe that this slow activity was largely due to the uncertainty around the election. There’s that old saying in psychology that a confused mind will do nothing. Well guess what – a lot of people, buyer  and  sellers, were stuck in a very confused mind. So, that low activity might have built up a groundswell of pent-up demand—and pent-up supply—that’s now asserting itself in 2025. It will be very interesting to see how the activity in February (fingers crossed the snow doesn’t get in the way) and March unfolds. Now, it is possible that we’re emerging from an even broader slump that’s lasted for more than two years now. In the past two years we’ve seen the market overall activity drop considerably, for a variety of reasons. One big reason was that many sellers were reluctant to put their homes on the market and give up those wonderful low mortgage interest rates. But sooner or later some people will need to move, whether for family reasons, jobs, or other life events. So with time we’re likely to see more of those reluctant sellers make their moves. And with more inventory we’ll see more overall market activity.  One thing’s for sure: if you’re ready to sell now, buyers are out in force, and sales are on the rise. We’re back to homes getting offers more quickly after listing, and multiple offers that push prices higher above the asking price.  So, if you or someone you know is considering making a move this year, let’s put together a custom strategy that’s tailored to your home and your unique needs. Our 5-step system lays out a clear plan that has proven itself in a variety of market conditions, to get sellers the best results. You can reach out to me by email, or on my website. The best way to reach me is by phone at 206-779-9808. And we still offer our no-obligation consultation, so you can talk to us and make your choice without pressure.  By the way, if you’re a buyer, we also have a great plan for you, our 3-step system, and again – no obligations, just reach out and let’s talk.  And as always, a big plug to Akin, the local organization that helps take care of kids and families in need. We, at Weisbarth & Associates, are huge fans of this amazing organization, and we donate a substantial amount from every sale to help the kids and families in need. So your business your referral make a direct, positive impact on the good people at Akin.  Here’s to another successful year in real estate! Thanks for tuning in—don’t forget to like, subscribe, and follow for more updates, and be sure to check out my monthly newsletter at Weisbarth.com/newsletter . I’m Doron Weisbarth with Weisbarth & Associates, and I’ll see you next time!

Hi, I’m Doron Weisbarth with Weisbarth & Associates, Happy New Year and welcome to my January 2025 Market Update! Today, we’re going “Back to the Future” to look at what’s happening in our local real estate market—and where we might be heading this year. Now, my crystal ball’s been in the shop for a while, so I’m forced to rely on real data and patterns from the past decade, as well as a few notable curveballs we saw in 2024—like the election, the Fed playing with interest rates, and mortgage rate fluctuations that didn’t always seem intuitive. As you’ll recall, in 2024 we had a big election that caused a noticeable pause in market activity. Many buyers and sellers felt uncertain until that was resolved. In addition, mortgage interest rates didn’t follow the Fed’s lead quite as one would expect—mortgage rates went up even after the Fed lowered its own rate twice. But, what’s interesting, is that as soon as people realized rates weren’t going back to 2021 levels, they jumped back into the market.  So now that consumers are back to normal behavior, the market activity went back to being driven by those two classic forces in real estate: supply and demand. Let me show you this chart that I’ve been studying. Right now, you’ll see only the BLUE line, which shows the cyclical pattern of Closed Sales for single family homes in King County from 2014 through 2024. Notice how every year, the number of sales spikes in spring and summer, then cools off toward the end of the year. That shape has remained remarkably consistent since even before 2014. But the bigger question is how many total homes sell within that cycle—and that’s where the scale of activity really matters. Now, watch as I overlay the ORANGE bar that shows the Annual Combined Closed Sales for each year. You’ll see we hit a record high of nearly thirty thousand single-family homes sold in 2021, then a big drop to around twenty-two thousand in 2022 and crashing down to 16,611 in 2023. I’m sure that you’ll agree that this is pretty dramatic!  Last year we inched up to just under eighteen thousand single family home sold, which is better than 2023 but still way below what we’d call “normal” levels. Whether this means the market is reversing course or just catching its breath, time will tell. By the way, if you want to look at this data and read my report at your pace and leisure, you’ll find all this information in my January newsletter, available online and for download, for free, at Weisbarth.com/Newsletter , that’s Weisbarth.com/Newsletter . So, what about 2025? Early indicators suggest buyers are actively searching for a good home, motivated by rising rents, the return-to-office mandates, and the possibility of refinancing later if rates drop. Sellers, however, aren’t rushing to list quite yet. Many are locked into those historically low mortgage rates and, understandably, are hesitant to give them up. That means supply might stay tight, and if demand significantly outpaces new listings, prices could climb at a fast pace. And we can’t forget new construction. Builders face material costs, labor shortages, and shifting economic conditions that can speed things up or slow them down. If fewer new homes come to market, that feeds directly into our ongoing shortage and puts upward pressure on prices. So, in short, 2025 looks like it’ll continue testing the balance between supply and demand. Buyers are eager, often willing to jump in despite higher rates, while sellers remain cautious about giving up their low-rate mortgages. Throw in the uncertainties around new construction, and it’s a recipe for a market that could see steady—or even rapid—price growth unless inventory levels improve. So if you or someone you know is thinking about making a move this year, let’s talk! My team and I use real data to help you navigate these ups and downs—no crystal ball required. Preparation and timing are everything, and we’ve got the numbers and strategies to back that up. Reach out by email, text, or—my favorite—a good old-fashioned phone call to 206-779-9808, that’s 206-779-9808. And as always, a big plug to Akin, the local organization that helps take care of kids and families in need. We at Weisbarth & Associates donate a substantial amount from every sale to this amazing organization and have been for eight years now. So your business your referral make a direct, positive impact on the people at Akin.  Thanks for tuning in! Don’t forget to like, subscribe, and follow for more updates. And, again, if you’d like to read my newsletter or share it with a friend, you can find it at Weisbarth.com/newsletter . I’m Doron Weisbarth with Weisbarth & Associates, Happy New Year and here’s to making 2025 a year of smart moves and bright possibilities. See you next time!

Hi, I’m Doron Weisbarth with Weisbarth & Associates, and welcome to my December 2024 market update.  As we wrap up the year 2024, it’s time to start thinking strategically about the real estate market in the first quarter of 2025. Whether you’re planning to sell or buy, or both, proper timing and correct preparation can help you maximize your results. So, let’s talk about what you need to know to position yourself for success in 2025. If you’re a seller, the first quarter consistently offers the most favorable conditions. We’ve seen this pattern repeat without change for at least 15 years. This graph shows only a few years’ worth of data, but the pattern is consistent: homes listed early in the year attract the most attention and often sell for higher prices. The reason? The first quarter of the year typically sees a wide gap between buyer interest and available listings. In other words, the gap between supply and demand is the widest, and this tension puts a strong upward pressure on market prices. So, when you list during this time window, you’re putting your home in front of eager buyers with very little competition from other sellers, which often leads to strong offers in a short period of time.  Now, if you really want to capitalize on this market timing advantage, then make sure your home is as attractive as possible and that the marketing for it is top notch. Consider strategic upgrades, professional staging, and quality photos and videos that will highlight your home’s best features. But be careful not to overspend, particularly on home improvements and upgrades that will not raise your home’s value enough to give you a return on your investment. This is probably the number one mistake that I see sellers make. If you’re putting in a dollar and you only raise the price by 75 cents, then why do it – makes sense? Now, coming back to the market timing, by acting ahead of the spring rush, you ensure your property stands out at the exact moment when demand peaks and supply is at its lowest. How awesome is that? By the way, if you want to look at this data and read my report at your pace and leisure, you’ll find all this information in my December newsletter, available online and for download, for free, at Weisbarth.com/Newsletter , that’s Weisbarth.com/Newsletter . Now, for those of you looking to buy, the early part of the year may feel like a crazy seller’s market, which might be true, but buyers who are prepared can still come out on top. One of the most important things you can do is be ready to act fast, because great opportunities don’t last long in a high-demand environment. Know exactly what you’re looking for, so when the right home appears, you’ll be able to identify it right away, and make a confident decision. The two biggest mistakes that I see buyers make are overanalyzing, which can lead to delays and paralysis, which can make you lose a good deal, and on the flip side, getting caught up in the competitive frenzy of a bidding war that ends up pushing you beyond your comfort zone. So, staying grounded, and having a skilled and experienced broker to make sure to guide you and keep you grounded, will help you stay true to your goals so that you don’t miss out on a good opportunity, but also don’t overpay. And if you’re one of the people who are looking to both buy and sell, then in addition to the advice for sellers and buyers that I just presented, there are some more nuanced details that you would need to consider. Obviously, those details will vary based on your financial situation, your timeline, where you are planning to move to, etc. I realize that this may sound big and scary, but with the right guidance to help you navigate these details, it’s really not a big deal.  The bottom line here is that no matter how you look at it, the real estate market can be complex, especially these days. If you want to get the most from your transaction, then timing your move, and correct preparation makes all the difference. My team and I have created step-by-step systems for both buyers and sellers to help you thrive in any market conditions. We have a 5-step system for sellers, and a 3-step system for buyers, and we know that they work amazingly well, because we have the numbers to prove it.  So, if you or someone you know is looking to make a move in 2025, don’t be shy! Reach out and let’s set up a time to talk. We offer a no-obligation consultation, which means that you can sit down and talk with us, and ask us questions and explore different scenarios without having to make a commitment to work with us. We only want your business if you think that we are the right people to represent you on your transaction.  And as always, remember that by working with us, you’re also supporting Akin and their incredible work with kids and families in need. We make a substantial donation to Akin from the income from our home sales, which means that your business and referrals make a positive impact in our community. To connect with us, you can share this video and my newsletter, send an email, reach out through our website, or, the best way, is give me a call directly at 206-779-9808. Let’s talk about your goals and put together a specific, strategic plan that makes sure that you’re ready to hit the ground running in 2025.  Thanks for tuning in! Don’t forget to like, subscribe, and follow for more updates. And, again, if you’d like to read my newsletter or share it with a friend, you can find it at Weisbarth.com/newsletter . I’m Doron Weisbarth with Weisbarth & Associates, I hope you and your loved one have a wonderful Holiday Season and a very Happy New Year, and I’ll see you next year!